CONNECTICUT FORECLOSURES INCREASE 556 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 4,846 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Connecticut reported 1,385 properties entering some stage of the foreclosure process, a 556 percent gain from the 211 properties reported in August, and a 4,846 percent increase from the 28 properties reported for the same month last year, according to the RealtyTrac™ September 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“Home appreciation in Connecticut has been declining after two years of steady growth,” said James J. Saccacio,” chief executive officer of RealtyTrac. “Though the state has been reporting low loan delinquency rates for the past months, things appear to be changing as Connecticut has recently realized an unusually high number of foreclosures.”

 

Connecticut ranked 20th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 1,000 households — just above the national average — ranks it 15th among the 50 states.

 

Fairfield County tops in foreclosure activity

Fairfield County had the largest share of foreclosure activity in Connecticut for September, reporting 377 properties entering some stage of the foreclosure process. New Haven County had the second highest total, reporting 372 properties entering some stage of foreclosure. Third highest was Hartford County, reporting 312 properties in foreclosure.

 

Highest foreclosure rate reported in Fairfield County

Fairfield County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 900 households — 1.1 times the state average and 1.1 times the national average. Reporting one new foreclosure filing for every 915 households — 1.1 times the state average and 1.1 times the national average — New Haven County had the second highest foreclosure rate in the state. Windham County followed closely behind with the state’s third highest rate, reporting one new foreclosure filing for every 916 households — also 1.1 times the state and national averages.

 

Connecticut accounts for little of national total

Connecticut’s foreclosure activity accounted for 1 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

                    Connecticut Foreclosure Market by County – September 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Connecticut

1,226

157

0

0

2

1,385

1,000

1.03

 

 

 

 

 

 

 

 

 

 

Fairfield

294

82

0

0

1

377

900

1.14

1.11

Hartford

285

27

0

0

0

312

1,131

0.91

0.88

Litchfield

68

9

0

0

0

77

1,029

1.00

0.97

Middlesex

59

8

0

0

0

67

1,004

1.03

1.00

New Haven

349

22

0

0

1

372

915

1.13

1.09

New London

91

1

0

0

0

92

1,203

0.86

0.83

Tolland

35

5

0

0

0

40

1,289

0.80

0.78

Windham

45

3

0

0

0

48

916

1.13

1.09

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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